Savvy consumers are always on the lookout for a good deal. But a low price doesn't result in a smart buy if the product loses a substantial portion of its value once purchased. New cars are often cited as poor buys for this reason. Once driven off the dealer lot, brand new cars and trucks typically lose 15 to 25 percent of their value each year during the first five years of ownership. But that's not true for all vehicles. Knowing which brands hold their value best is key for consumers searching for value. Here are the best bets in 11 product categories.
More Bang for the Buck: 11 Products That Hold Their Value Best
Representatives from multiple resale sites consider Chanel and Louis Vuitton, along with higher end Hermès, the "holy trinity" of designer handbags. The founders of SnobSwap, speaking to WhoWhatWear, and the CEO of Tradesy, in a Q&A with Racked, point to Chanel's 2.55 flap bags (starting at $4,900) and Louis Vuitton's Neverfull bags (starting at $1,180) as iconic styles that retain about 85 percent or more of their original retail value.